Aberdeen Group plc Trims Stock Position in MercadoLibre, Inc. (NASDAQ:MELI)

Aberdeen Group plc cut its holdings in shares of MercadoLibre, Inc. (NASDAQ:MELI) by 29.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 72,920 shares of the company’s stock after selling 30,285 shares during the quarter. Aberdeen Group plc’s holdings in MercadoLibre were worth $142,014,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Meiji Yasuda Life Insurance Co lifted its position in MercadoLibre by 0.5% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 999 shares of the company’s stock worth $1,699,000 after buying an additional 5 shares during the period. Formidable Asset Management LLC lifted its position in MercadoLibre by 3.2% during the fourth quarter. Formidable Asset Management LLC now owns 160 shares of the company’s stock worth $272,000 after buying an additional 5 shares during the period. Revolve Wealth Partners LLC lifted its position in MercadoLibre by 4.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 118 shares of the company’s stock worth $201,000 after buying an additional 5 shares during the period. Sonora Investment Management Group LLC raised its holdings in shares of MercadoLibre by 3.1% in the 1st quarter. Sonora Investment Management Group LLC now owns 168 shares of the company’s stock worth $328,000 after purchasing an additional 5 shares during the period. Finally, Beacon Capital Management LLC raised its holdings in shares of MercadoLibre by 8.3% in the 1st quarter. Beacon Capital Management LLC now owns 65 shares of the company’s stock worth $127,000 after purchasing an additional 5 shares during the period. 87.62% of the stock is currently owned by hedge funds and other institutional investors.

MercadoLibre Price Performance

MELI stock opened at $2,319.80 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.18 and a current ratio of 1.20. MercadoLibre, Inc. has a 1 year low of $1,646.00 and a 1 year high of $2,645.22. The firm has a market cap of $117.61 billion, a P/E ratio of 57.29, a price-to-earnings-growth ratio of 1.48 and a beta of 1.46. The stock has a 50-day simple moving average of $2,416.37 and a 200-day simple moving average of $2,255.38.

MercadoLibre (NASDAQ:MELI) last posted its earnings results on Monday, August 4th. The company reported $10.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $12.01 by ($1.70). MercadoLibre had a net margin of 8.52% and a return on equity of 43.06%. The company had revenue of $6.79 billion during the quarter, compared to analyst estimates of $6.57 billion. During the same quarter last year, the business posted $10.48 EPS. MercadoLibre’s quarterly revenue was up 33.8% compared to the same quarter last year. On average, equities analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MELI has been the topic of a number of research reports. Daiwa Capital Markets initiated coverage on MercadoLibre in a report on Friday, August 1st. They issued a “buy” rating and a $3,000.00 price objective on the stock. Benchmark restated a “buy” rating and issued a $2,875.00 price objective on shares of MercadoLibre in a report on Tuesday, August 5th. Morgan Stanley restated an “overweight” rating on shares of MercadoLibre in a report on Thursday, May 1st. UBS Group set a $3,000.00 price objective on MercadoLibre in a report on Monday, June 2nd. Finally, JPMorgan Chase & Co. raised their price objective on MercadoLibre from $2,600.00 to $2,700.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, MercadoLibre currently has an average rating of “Moderate Buy” and an average target price of $2,795.00.

MercadoLibre Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.